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Well, Obama and his admin have been going thru the budget "line by line" looking for waste, fraud, abuse, and under performing programs, for almost four years now. They should have a ready list of cuts to federal spending.... unless he was lying back in 2009, again.
You mean like how they found $500B in wasteful spending in Medicare and Conservatives tried to turn it into an attack ad?
Easy - true liberals don't actually care about the debt or deficit. The are certainly Democrats who care about it, but the true-believer liberals (i.e. Krugman) genuinely don't see either issue as a problem.
Apparently neither do Rightwing Chickhawks:
"You know, Paul, Reagan proved that deficits don't matter. We won the mid-term elections, this is our due. " - VP Dick Cheney to Paul O'Neill, then Treasury Secretary
Easy - true liberals don't actually care about the debt or deficit. The are certainly Democrats who care about it, but the true-believer liberals (i.e. Krugman) genuinely don't see either issue as a problem.
I am a libertarian and I don't care about the deficit, like you do, because I am not an idiot. However then again I should not assume most people even know the difference between increasing deficits and spending.
"You know, Paul, Reagan proved that deficits don't matter. We won the mid-term elections, this is our due. " - VP Dick Cheney to Paul O'Neill, then Treasury Secretary
Ken
I don't disagree. Most Republicans are now big government conservatives.
I don't disagree. Most Republicans are now big government conservatives.
The deficit has nothing to do with the size of government. A bare bones libertarian state, that still used a state money system, could very well run large deficits without so much as putting in a stop sign.
You do see, don't you, that a 15% VAT raises $1.2 trillion.
We shouldn't appropriate $1.2 trillion out of the private sector economy right now, unless you want to plunge into a deflationary spiral.
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A 20% cut in spending is MINIMAL compared to what will be needed in the future, if nothing is done.
No cuts are "needed". Cuts for the sake of cutting , or for the sake of balancing the budget, does nothing to "Save the economy," or even improve it.
Cuts are only a good thing to the extent that they specifically cut waste; you don't grow the economy by cutting government indiscriminately simply to reduce debt levels. The United States is an autonomous issuer of currency, we don't run out of money.
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I love your response. The idiocy of "spend as usual" assures the destruction of the US.
No, it doesn't. This is garbage economics.
The risk of government spending is inflation, that's all. And right now, with the collapsing real estate bubble, cooling Chinese economy, and European austerity, we're in an environment of global deflation.
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There is no way that we can keep spending at these levels and expect to survive as a nation.
Watch us. This fear you have is rooted in obsolete economics, back when dollars were convertible to gold. That's ancient history.
Gullibility. That's the new meaning of being a liberal.
And I responded to your post with this.
I noticed you didn't have a response. All you have is a "plan" provided by the White House.
LOL
I'll ask you again. With no budget for the past 4 years, and none in the foreseeable future, how do you expect this "plan" to be implemented?
Gullible. The Presidnt puts a "plan" out there for public consumption and the minions feast on it for days. Downright, disgustingly gullible.
You ignore the whole plan and expect people to keep accepting your whims? Now, I don't doubt that y'all excel in running around shamelessly, it is why I never seem to miss opportunities to send these reminders regularly.
You've been presented with the plan, of which the $80 billion or so is only a small part of it. Now, you may resume your whine and cry about your perceptions of lack of liberals/progressive plans only limited by your personal capacities.
You do see, don't you, that a 15% VAT raises $1.2 trillion.
The government prints money. It has all the buying power it wants. Taxing in $1.2 trillion removes buying power from the public and nothing more. That means the only buying power will come from bank credit. So your plan must be more credit card usage I guess. Its hell raising. VAT is the nightmare of all tax systems favored by oppressive, centralized governments and fanciers who want to shift all taxes off their debt and financial instruments and onto production.
The government prints money. It has all the buying power it wants. Taxing in $1.2 trillion removes buying power from the public and nothing more. That means the only buying power will come from bank credit. So your plan must be more credit card usage I guess. Its hell raising. VAT is the nightmare of all tax systems favored by oppressive, centralized governments and fanciers who want to shift all taxes off their debt and financial instruments and onto production.
Printing money reduces buying power via inflation. It also increases borrowing rates since lenders know that the government is likely to print its way out of debt.
We shouldn't appropriate $1.2 trillion out of the private sector economy right now, unless you want to plunge into a deflationary spiral.
No cuts are "needed". Cuts for the sake of cutting , or for the sake of balancing the budget, does nothing to "Save the economy," or even improve it.
Cuts are only a good thing to the extent that they specifically cut waste; you don't grow the economy by cutting government indiscriminately simply to reduce debt levels. The United States is an autonomous issuer of currency, we don't run out of money.
No, it doesn't. This is garbage economics.
The risk of government spending is inflation, that's all. And right now, with the collapsing real estate bubble, cooling Chinese economy, and European austerity, we're in an environment of global deflation.
Watch us. This fear you have is rooted in obsolete economics, back when dollars were convertible to gold. That's ancient history.
Wow-
This is interesting. So, in spite of the fact that federal spending has increased dramatically under Obama, you are perfectly comfortable with spending to oblivion? You seem perfectly comfortable "taxing the rich" (which does nothing).
I am watching. I also know what happened in Mexico, Argentian, Zimbawe, the Weimar Republic, and the Ottoman Empire.
Apparently you should read more economics. The champion of your economic philosophy (Stiglitz- a Nobel Prize winner), has no answers when debt exceeds 200% GDP. Do you have answers? Obama's $10 trillion coins?
It is easy to see how we got into this mess and how Obama was re-elected.
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